THE NEW ZEALAND SHIPPING COMPANY.
(UNITED PRESS ASSOCIATION.) Christo.iurch, July 18.
Despite the losses incurred by bringing ships here under charter to load grain, which could not be got, the New Zealand Shipping Company are able to show the handsome profit of £35,623 16s 3d. They propose 10 per cent, dividend, absorbing £12,500, and to carry the same amount to the reserve fund, making £12,500. The balance of £10,623 16s 3d will be carried forward. The insurance fund now amounts to £7754 7s 3d. Full provision has been made for losses on vessels under charter before striking a balance. The following clause occurs in the report : —“ Steam.—Considerable agitation existing for direct steam communication with the Mother Country, and the necessity existing for additions to the fleet of the Company, your Directors are taking the necessary steps to place this Company in a position to supply such portion of direct steam service as may be deemed needful to protect the valuable business of the Company, and meet the reasonable requirements of its trade.”
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Bibliographic details
New Zealand Mail, Issue 546, 22 July 1882, Page 22
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172THE NEW ZEALAND SHIPPING COMPANY. New Zealand Mail, Issue 546, 22 July 1882, Page 22
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